- Manage and hedge a position
- Stress management !
- Liquidity is a real risk for market operators.
- Pricing and arbitrate the market
- Importance to have competitive bid-ask spread to get deals.
FMIT Raleigh - 2011
- Be quick to take advantage of a mispricing
- The asymmetry of information hurts !- The difference between theory and practice was visible fairly
quickly on our PnL. FMIT Raleigh - 2011
- Integrate all of information and skills which we learned before
- We now know a place order in the right direction, hedger
our-selves, mange the bid / ask spread, respond quickly to the
Sales, how to win on several products, and more importantly the
difference between management and trading. FMIT
Raleigh - 2011

Citations

About the interface

“The tool was easy to learn, and thus an excellent teaching tool.”
"The interface is intuitive, easy to take in hand."
FMIT Raleigh - 2011
"We consider it as a real simulator that gives a great overview on
the trading activity." FMIT Raleigh - 2011

About the experience

"It is an experience you do not get from any
theoretical courses."
“We appreciated the opportunity to confront the problems of
market-making and decision-making.”
“We understood how it was difficult to think in a stressful
environment ...”
"This is a real value added ... allowing us to be more confident and
independent in our next experiments in trading room."
FMIT Raleigh - 2011"I liked the interaction and the fact that we learn about the other
traders' reactions""It was a very lively experience."

Appling knowledge

"The Dicer
has allowed us to apply all the knowledge accumulated on the options
and derivatives products." FMIT Raleigh - 2011
"The purpose of making us discover the trading is reached (it is not
enough to take positions you must also be able to hedge them). In
this sense we attribute a note of 9/10." FMIT Raleigh
- 2011
“This simulation allowed us to better visualize the payoffs of each
product.”
“The ability to treat more exotic products such as barrier options
or digital has allowed us to realize the interests of these products
to develop low-cost strategies.”
"Delta hedging might be useful in fact ..."

Extra learning

“Reactivity is the key for success !”
“We have learned through this simulation how it can be difficult to
carry a position or a portfolio of several positions.”
"This simulation tool made me realize the potential risk implied by
large open positions if you are not hedge. Downside can happen very
fast. "
“The initial strategy choices are crucial for the rest of the game.
It is therefore necessary not to be exposed too significantly in one
direction only.”
"When the market falls sharply, you may have to concentrate to
limit your losses instead of increasing your risk to recoup losses !"

"Definitely useful and a good time to have, I would totally
recommend it to not only future traders but to anyone likely to work
in a trading room, to get a strong understanding of what this core
activity in front office is all about. "